There's no denything that Facebook is a mobile app company, and not just a desktop site, which you use to connect with friends. If you have any doubts about that, it's second-quarter earnings report should help clear the air.
Facebook reported rapid growth for both mobile ad revenue and mobile users. Mobile ad revenue now makes up a whopping 76 per cent of all of Facebook's ad revenue, which experienced a 3 per cent jump from last quarter, while users accessing from a mobile device spiked 23 per cent from last year.
More than 1.31 billion users now visit Facebook from a mobile device every month, according to results from the 90-day period that ended on 30 June. Mobile daily active users also went up 29 per cent year-over-year. As for the number of daily active users, they spiked 17 per cent year-over-year to 968 million users on average.
Now, the financial stuff: Facebook posted a profit of 50 cents per share on $4.04 billion in revenue last quarter, up from $2.91 billion a year ago. It therefore beat Wall Street analyst estimates of 47 cents per share on $4 billion in revenue. Facebook also said expenses in total came to $2.77 billion, up 82 per cent from the same period last year.
Facebook shares fell 5 per cent in after-hours trading after the announcement. The company will hold a call to discuss the earnings at 2 pm PT.